Managerial Economics

This is an excellent book to start Economics. I have purchased this book for my MBA and found it very easy to learn.

This is not your average dry and boring managerial economics book. The writing is great, it covers all the major topics, and there are plenty of real life applications. THIS BOOK ROCKS.

This book is leaps and bounds more impressive than most managerial economics books. The newest concepts in economics like auctions, moral hazard, sophisticated pricing and adverse selection are given full chapter treatments. Not only do the authors clearly explain these concepts, but they show how they are applied in the business world. I was also impressed with their revised game theory chapter. Instead of the usual dry mathematical treatment, the chapter uses game theory to illustrate the importance of strategic principles. I found the chapter more helpful than any other treatment on game theory. The authors are professors at The Wharton School and use the book in their class. I can see why Wharton is a top ranked business school. Their students definitely have an advantage in learning from this book.

I reviewed the 5th edition of this book and thought it was good. This sixth edition is significantly better and in my view is the top book in managerial economics. The authors are from the Wharton School of Business, one of the top ranked business schools in the world. They have designed the book to show the reader how to apply various concepts to real world applications. In this edition, the authors have completely revised the chapters on pricing. The book covers both simple and sophisticated pricing models. The chapter on sophisticated pricing models (e.g., two part tariffs, bundling, price discrimination) is terrific and useful to both students and managers. Other improvements include a brand new chapter on game theory and a new chapter on adverse selection. The chapter on game theory is well written and clearly illustrates important strategic principles. I tip my hat to the authors for providing the reader with a clear understanding of how the theory works and why it is important. The chapter on adverse selection is also well written. I have looked at several books because I am trying to choose one for the course I teach. After reading this book I look no more. This is the best book for those who really want to understand how to use economics in the business world.